Keefe, Bruyette & Woods reissued their buy rating on shares of KeyCorp (NYSE:KEY) in a research report sent to investors on Thursday. The brokerage currently has a $21.50 price target on the financial services provider’s stock.
Several other equities analysts have also weighed in on the company. Morgan Stanley reissued an overweight rating and set a $23.00 price objective on shares of KeyCorp in a report on Thursday. Stephens raised KeyCorp from an equal weight rating to an overweight rating and set a $23.00 price objective for the company in a report on Thursday. CIBC reissued a buy rating on shares of KeyCorp in a report on Friday, December 8th. ValuEngine raised KeyCorp from a hold rating to a buy rating in a report on Friday, December 1st. Finally, Zacks Investment Research lowered KeyCorp from a hold rating to a sell rating in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $21.28.
KeyCorp (NYSE KEY) traded down $0.18 during mid-day trading on Thursday, hitting $19.52. The stock had a trading volume of 8,270,400 shares, compared to its average volume of 10,957,235. The company has a market capitalization of $21,185.38, a price-to-earnings ratio of 14.92, a PEG ratio of 1.79 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. KeyCorp has a 52 week low of $16.28 and a 52 week high of $20.15.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the company posted $0.30 earnings per share. KeyCorp’s quarterly revenue was up 13.7% on a year-over-year basis. equities research analysts anticipate that KeyCorp will post 1.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, November 27th. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio (DPR) is 36.84%.
In other news, Director Elizabeth R. Gile purchased 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The disclosure for this sale can be found here. Insiders sold 57,212 shares of company stock worth $1,060,508 in the last quarter. 0.65% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC raised its position in KeyCorp by 0.5% during the second quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 66 shares in the last quarter. Comerica Securities Inc. raised its position in KeyCorp by 0.7% during the second quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 83 shares in the last quarter. Essex Financial Services Inc. raised its position in KeyCorp by 0.3% during the second quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 117 shares in the last quarter. Advisory Services Network LLC raised its position in KeyCorp by 0.8% during the second quarter. Advisory Services Network LLC now owns 18,211 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 150 shares in the last quarter. Finally, HM Payson & Co. raised its position in KeyCorp by 1.2% during the second quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 81.20% of the company’s stock.
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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